THE KARNATAKA VALUE ADDED TAX (AMENDMENT) ACT, 2013
KARNATAKA ACT NO 32 OF 2013
(First Published in the Karnataka Gazette Extraordinary on the Fifth day of March, 2013)
An Act further to amend the Karnataka Value Added Tax Act, 2003.
Whereas it is expedient further to amend the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) for the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the Sixty fourth year of the Republic of India, as follows.-
1. Short title and commencement.-
(1) This Act may be called the Karnataka Value Added Tax ( Amendment) Act, 2013.
(2) It shall come into force with effect from the First day of April, 2013.
2. Amendment of section 10.-
In the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) (hereinafter referred to as the principal Act), in section 10, in sub-section (4), the words and figures "or Section 30" shall be omitted.
3. Amendment of section 38.-
In section 38 of the principal Act, in sub-section (1), in clause (b), for the words "ten days", the words "thirty days" shall be substituted.
4. Amendment of section 39.-
In section 39 of the principal Act-
(i) in sub-section (1), in clause (b), for the words "ten days", the words "thirty days" shall be substituted; and
(ii) for sub-section (2), the following shall be substituted, namely:-
"(2) Where after making a re-assessment under this Section-
(a) any further evidence comes to the notice of the prescribed authority; or
(b) if the prescribed authority has reason to believe that the whole or any part of the turnover of a dealer in respect of any tax period has escaped re-assessment to tax; or
(c) tax has been under re-assessed; or
(d) has been re-assessed at a rate lower than the rate at which it is assessable under this Act; or
(e) any deductions or exemptions have been wrongly allowed in respect thereof,
the prescribed authority may, notwithstanding the fact that whole or part of such escaped turnover was already before the said authority at the time or re-assessment, proceed to make any further re-assessments in addition to such earlier re-assessment".
5. Amendment of section 47.-
In section 47 of the principal Act, in sub-section (1), for the words, figures and punctuation marks "Subject to section 30, where", the words, figures and punctuation marks "where" shall be substituted.
6. Amendment of section 62.-
In section 62 of the principal Act, in sub-section (4), in clause (c)-
(i) in sub clause (i)-
(a) for the words "stay payment of one half of tax", the words "stay payment of Seventy percent of tax" shall be substituted;
(b) for the words "makes payment of the other half of the tax", the words "makes payment of the balance thirty percent of the tax" shall be substituted;
(ii) in sub clause (ii)-
(a) for the words "payment of one half of the tax", the words "payment of thirty percent of the tax" shall be substituted;
(b) for the words "other half of such tax", the words "balance Seventy percent of such tax" shall be substituted.
7. Amendment of section 63.-
In section 63 of the principal Act-
(1) in sub-section (4), for the words "payment of one half of tax", the words "payment of thirty percent of tax" shall be substituted;
(2) in sub-section (7)-
(a) in sub clause (a)-
(i) for the words "stay payment of one half of the tax", the words "stay payment of Seventy percent of the tax" shall be substituted;
(ii) for the words "other half of the tax", the words "thirty percent of the tax" shall be substituted;
(b) in clause (b), for the words "recovery of one half of tax", the words "recovery of Seventy percent of tax" shall be substituted.
8. Amendment of section 63-A.-
In section 63-A of the principal Act, in sub section (1), for the words "cancelling the assessment or directing the fresh assessment", the words "cancelling the assessment and directing the fresh assessment" shall be substituted.
9. Amendment of section 74.-
In section 74 of the principal Act, in sub section (1), the words " or submit a copy of the agreement entered into for execution of civil works contract" shall be omitted.
10. Amendment of section 76.-
In section 76 of the principal Act, in sub section (1),-
(i) in clause (a), the words and figures "or a credit or debit note as requeired by sub section (1) or sub section (2) of Section 30" shall be omitted; and
(ii) in clause (b), the words and figures "or a credit or debit note as provided in Section 30" shall be omitted.
11. Amendment of First Schedule.-
In the first Schedule to the principal Act, in the entries relating to serial number 5, in item (ii), for the words "de-oiled cake and wheat bran", the words "wheat bran and de-oiled cake but excluding soya bean de-oiled cake" shall be substituted..
G. K. BOREGOWDA
Secretary to Government
Department of Parliamentary affairs and Legislation